Published on 2/6/2012 in the Prospect News Municipals Daily.
New Issue: Dasny sells $89.53 million revenue bonds for Memorial Sloan-Kettering
By Sheri Kasprzak
New York, Feb. 6 - The Dormitory Authority of the State of New York priced $89,525,000 of series 2012 revenue bonds for the Memorial Sloan-Kettering Cancer Center, according to an official statement.
The bonds (Aa2/AA-/) were sold through senior manager Goldman Sachs & Co.
The co-managers were J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Rice Financial Products Co. and US Bancorp Investments Inc.
The bonds are due 2014 to 2036 with a 2041 term bond. The serial coupons range from 3% to 5%. The 2041 bonds have a 5% coupon to yield 3.8%.
Proceeds will be used to finance or refinance the costs of an ambulatory care facility in Harrison, N.Y.
| Issuer: | Dormitory Authority of the State of New York/Memorial Sloan-Kettering Cancer Center
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $89,525,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co. (lead), J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Rice Financial Products Co. and US Bancorp Investments Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 16
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $1.7 million | 2014 | Serial | 3% | 0.49%
|
| $1,755,000 | 2015 | Serial | 4% | 0.76%
|
| $1,825,000 | 2016 | Serial | 4% | 0.94%
|
| $1,895,000 | 2017 | Serial | 4% | 1.15%
|
| $1.97 million | 2018 | Serial | 4% | 1.51%
|
| $2.05 million | 2019 | Serial | 4% | 1.77%
|
| $2,135,000 | 2020 | Serial | 4% | 2.03%
|
| $2.22 million | 2021 | Serial | 4% | 2.28%
|
| $2.31 million | 2022 | Serial | 4% | 2.43%
|
| $2.4 million | 2023 | Serial | 5% | 2.56%
|
| $2.52 million | 2024 | Serial | 5% | 2.64%
|
| $2,645,000 | 2025 | Serial | 5% | 2.71%
|
| $2.78 million | 2026 | Serial | 5% | 2.83%
|
| $2,915,000 | 2027 | Serial | 5% | 2.94%
|
| $3,065,000 | 2028 | Serial | 3% | 3.09%
|
| $3,155,000 | 2029 | Serial | 5% | 3.14%
|
| $3,315,000 | 2030 | Serial | 5% | 3.23%
|
| $3.48 million | 2031 | Serial | 5% | 3.32%
|
| $3.65 million | 2032 | Serial | 5% | 3.42%
|
| $3,835,000 | 2033 | Serial | 3.5% | 3.52%
|
| $3.97 million | 2034 | Serial | 5% | 3.57%
|
| $4.17 million | 2035 | Serial | 5% | 3.66%
|
| $4,375,000 | 2036 | Serial | 5% | 3.72%
|
| $25.39 million | 2041 | Term | 5% | 3.80%
|
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